China’s MV-70 CFR Qingdao ECH rubber prices decreased by 0.9% on September 25, since Japanese suppliers cut prices to compensate for 15% U.S. tariffs and keep the export volumes, while the ECH feedstock costs were rising owing to worldwide petrochemical tightness. Intra-Asian freight rates declined to USD 554/40ft container, diminishing CFR costs; meanwhile, Super Typhoon Ragasa brought about 2-4-day delay at Qingdao ports. Demand experienced seasonal improvement, NEV sales in China rose by 4.5% to 1.05 million units, according to the China Passenger Car Association, while the whole vehicle sales went up moderately by 1.2%. Festive-stock accumulation supported orders, but high inventories and trade war led to cautious buying, which limited restocking and heralded the bearish case despite feedstock tightness. According to ChemAnalyst, the prices for ECH rubber in China will rise in the next month due to shut shutdown during the Golden Week of October.
